DCM Newsletter — Q4 2020
DCM is excited to announce our new DCM Portfolio Talent Network where professionals interested in connecting with our portfolio companies can sign up to be part of our Talent Network. Sign up here or forward it to talent folks in your network in search of their next role.
In other firm news, we are delighted to share the promotions of David Cheng and Sara Wei, both to Principal. Join us in congratulating them!
SoFi announces plans to go public
Online lending and wealth management company SoFi is preparing to go public by merging with Chamath Palihapitiya’s SPAC Social Capital Hedosophia Corp V. With the merger, the company will raise up to $2.4 billion, which values the company at $8.65 billion. David Chao was an early board member, and DCM has been an investor since 2012.
Bill.com named one of the hottest stocks of 2020
Since going public, Bill.com’s (NYSE: BILL) shares have increased more than fivefold, making the company “one of the best IPOs in fintech since the industry was born in 2005.” Forbes shares an in-depth story on Bill.com’s 13-year IPO journey and includes insights from DCM.
fuboTV named top-performing IPO
Shortly after going public in Q3, fuboTV (NYSE: FUBO) shares were up 342%. The company was also named one of 2020’s top-performing IPOs and surpassed paid subscriber goals. DCM led the company’s Series A round, and Jason Krikorian was an early board member.
Plenty announces $140 million Series D round, collaboration with Driscoll’s
Plenty, an indoor vertical farming company, raised $140 million in Series D funding to support its commercial collaboration with fresh berry supplier Driscoll’s. With the funding, the agtech company also plans to build a new farm and supply greens to 431 Albertsons stores. DCM was an early investor and co-led the Series A round.
DXY announces $500 million Series E round
DXY, a leading digital healthcare technology company, raised $500 million in Series E funding and serves a cumulative 130 million consumers in China. The company has been active in the fight against COVID-19 and created the first virus tracker. DXY data was also adopted by Johns Hopkins University as an early data source for its Coronavirus Resource Center. DCM led the Series A round in early 2010 and has seen the company’s valuation increase >200x since our initial investment.
Origin acquired by publicly traded 3D printer and production systems manufacturer
3D printing startup Origin was acquired by Stratasys Ltd. (Nasdaq: SSYS) for a $100 million cash-and-stock deal. The company’s proprietary technology is expected to add up to $200 million in incremental annual revenue within five years. DCM led the Series A round.
FiveStars announces $52.5 million Series D round
SaaS startup FiveStars raised $52.5 million in Series D funding. The company’s software helps small businesses personalize real world commerce by automating loyalty and marketing. During the pandemic, FiveStars has seen record usage and has provided more than $1 million worth of credits to customers. DCM led the seed and Series A rounds.
VIPThink announces $180 million Series C round
Chinese edtech startup VIPThink raised $180 million in Series C funding. VIPThink offers a STEM learning platform for children and plans to incorporate AI and anime to create a new education ecosystem. DCM led the Series A round with Ramon Zeng as a board member.
Co-Founder of Brigit Lands on Forbes 30 Under 30
Congratulations to Brigit’s co-founder and CTO Hamal Kothari for being featured on Forbes’ 10th Annual 30 Under 30 List! Hamal co-founded the socially responsible financial wellness company to help its members budget and save smarter. DCM led the seed round.
